Swingline Loan

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Swingline Loan

A large loan that a company may take out in order to repay other debts. A swingline loan is much like a line of credit or a demand loan, but differs in that it must be used to repay outstanding debt. See also: Refinancing, Debt consolidation.
References in periodicals archive ?
Macro Engineering & Technology Inc., Mississauga, Ont., has developed a winder for either wide sheeting or narrow films on center, a configuration that is said to be well suited to geomembrane/agricultural-film swing lines.
New technology from the Alpine American Division of Hosokawa Micron International includes new swing lines, barrier film installations, horizontal spiral distributors for barrier film, radial feed vertical spiral dies, and a control system.
Alpine swing lines run both high and low-stalk with fast changeover.